Rush Enterprises, Inc. (NASDAQ:RUSHA) Stake Reduced by New South Capital Management Inc.

New South Capital Management Inc. cut its holdings in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 526,979 shares of the company’s stock after selling 500 shares during the quarter. Rush Enterprises comprises about 1.1% of New South Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. New South Capital Management Inc.’s holdings in Rush Enterprises were worth $27,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Rush Enterprises during the 3rd quarter worth about $421,000. Costello Asset Management INC acquired a new stake in Rush Enterprises during the 3rd quarter worth about $58,000. Essex Savings Bank acquired a new stake in Rush Enterprises during the 3rd quarter worth about $214,000. Verdence Capital Advisors LLC raised its holdings in Rush Enterprises by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,785 shares of the company’s stock worth $411,000 after buying an additional 370 shares during the period. Finally, QRG Capital Management Inc. increased its holdings in shares of Rush Enterprises by 3.7% in the 3rd quarter. QRG Capital Management Inc. now owns 13,564 shares of the company’s stock valued at $717,000 after purchasing an additional 484 shares during the period. 84.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens upped their target price on Rush Enterprises from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Insider Buying and Selling at Rush Enterprises

In other Rush Enterprises news, SVP Jason Wilder sold 4,500 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $51.68, for a total transaction of $232,560.00. Following the transaction, the senior vice president now owns 534 shares in the company, valued at $27,597.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Jason Wilder sold 4,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $51.68, for a total value of $232,560.00. Following the sale, the senior vice president now owns 534 shares in the company, valued at approximately $27,597.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William M. Rusty Rush sold 40,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total transaction of $2,152,400.00. Following the completion of the sale, the chief executive officer now owns 174,154 shares in the company, valued at approximately $9,371,226.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,500 shares of company stock worth $13,552,133 over the last 90 days. Insiders own 12.53% of the company’s stock.

Rush Enterprises Stock Down 0.1 %

Shares of RUSHA traded down $0.08 during trading hours on Tuesday, reaching $63.67. The company’s stock had a trading volume of 7,493 shares, compared to its average volume of 357,680. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 2.38 and a beta of 0.99. Rush Enterprises, Inc. has a 1-year low of $37.68 and a 1-year high of $65.15. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $53.04 and a two-hundred day moving average of $48.83.

Rush Enterprises (NASDAQ:RUSHA) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.95 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Rush Enterprises had a return on equity of 15.43% and a net margin of 3.93%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. As a group, research analysts predict that Rush Enterprises, Inc. will post 3.45 EPS for the current fiscal year.

Rush Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.13%. Rush Enterprises’s payout ratio is 19.10%.

Rush Enterprises Company Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.